Scotia Capital Inc. raised its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 4.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 170,322 shares of the basic materials company’s stock after acquiring an additional 6,661 shares during the quarter. Scotia Capital Inc.’s holdings in Franco Nevada were worth $14,370,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FNV. Advisory Services Network LLC increased its holdings in Franco Nevada by 20.6% during the 1st quarter. Advisory Services Network LLC now owns 879 shares of the basic materials company’s stock worth $66,000 after acquiring an additional 150 shares during the period. Riverhead Capital Management LLC lifted its holdings in Franco Nevada by 24.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,025 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 200 shares in the last quarter. Signaturefd LLC lifted its holdings in Franco Nevada by 46.5% in the 1st quarter. Signaturefd LLC now owns 1,408 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 447 shares in the last quarter. Tyers Asset Management LLC lifted its holdings in Franco Nevada by 17.6% in the 2nd quarter. Tyers Asset Management LLC now owns 1,392 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 208 shares in the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in Franco Nevada by 66.7% in the 2nd quarter. Carroll Financial Associates Inc. now owns 1,422 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 569 shares in the last quarter. 64.55% of the stock is owned by hedge funds and other institutional investors.
Shares of FNV traded down $1.56 during midday trading on Thursday, reaching $91.87. The company had a trading volume of 1,020,471 shares, compared to its average volume of 562,386. Franco Nevada Corp has a 1-year low of $60.47 and a 1-year high of $101.19. The stock has a market cap of $17.20 billion, a PE ratio of 78.52, a price-to-earnings-growth ratio of 14.97 and a beta of 0.03. The firm has a 50 day simple moving average of $93.94 and a 200-day simple moving average of $81.47. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, August 7th. The basic materials company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Franco Nevada had a return on equity of 4.83% and a net margin of 22.42%. The business had revenue of $170.50 million during the quarter, compared to the consensus estimate of $175.55 million. During the same period last year, the company earned $0.29 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Franco Nevada Corp will post 1.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.439 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from Franco Nevada’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, September 11th. Franco Nevada’s dividend payout ratio (DPR) is presently 85.47%.
A number of brokerages have weighed in on FNV. TD Securities raised their price objective on Franco Nevada from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barclays set a $89.00 target price on Franco Nevada and gave the stock a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. raised their target price on Franco Nevada from $110.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Canaccord Genuity reaffirmed a “buy” rating on shares of Franco Nevada in a research note on Friday, August 23rd. Finally, TheStreet raised Franco Nevada from a “c+” rating to a “b-” rating in a research note on Tuesday, June 18th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Franco Nevada currently has an average rating of “Hold” and a consensus target price of $98.65.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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